Tell Congress:
"It’s critical that the next round of COVID-19 economic response legislation put money where the need is greatest, not pander to pandemic profiteers. We demand that you reject Donald Trump’s proposal of bringing back the corporate entertainment tax deduction and increasing the corporate meals tax deduction from 50% to 100%, both of which benefit corporations, not laid-off workers."
|
John,
What’s Donald Trump’s latest “idea” to get the economy moving? Another business tax deduction, of course. And (surprise, surprise), it’s one that would benefit Trump’s family business.
In 2017, one thing the Trump tax scam actually got right was that it eliminated the corporate “entertainment tax deduction.” This had previously allowed corporations to write-off expenses like country club memberships and luxury skyboxes for concerts and events―which they would use to entertain clients and guests.
The tax scam also kept the “meals deduction” at 50% (it should have been eliminated), which Congress had correctly reduced from 80% back in 1993.
Now, in a supposed move to help struggling restaurants and restaurant workers, Trump is suggesting that both corporate tax deductions be reinstated to their former 100% level.[1] But who will this actually help?
It’s not the out-of-work restaurant worker. And it’s not the shuttered restaurant either. Let’s face it—people are not going to restaurants because taxes are too high. They’re avoiding restaurants to stay alive!
It’s Donald Trump who will personally benefit. See, Trump owns country clubs and destination resorts with fancy restaurants. The very same kind of businesses where corporations like to wine and dine their clients. In other words, it’s not your favorite neighborhood eatery.
Sign the petition to Congress to demand that the next COVID-19 stimulus package address the urgent needs of laid-off workers, struggling businesses and healthcare workers. It should not be used as a way for Donald Trump’s family business to benefit off of a global pandemic.
We’re fighting to demand that the next round of COVID-19 economic response legislation puts money where the need is greatest—in the pockets of laid-off families, better protecting first-responders and delivering food and other services to people who can’t put three square meals a day on their table. It must not pay for tax write-offs for CEOs and wealthy corporations.
While I’m sure a banking CEO would like to 100% write-off a $1,000 bottle of wine as a “business expense” at a classy restaurant, that’s not going to help struggling workers or help jump start our economy.
Sign the petition demanding that the next round of COVID-19 legislation put funds where the need is greatest―and that doesn’t include Donald Trump’s pocket!
Together, it’s up to us to demand an economic and tax response to this pandemic that puts the needs of people first.
Thank you,
Frank Clemente
Executive Director
Americans for Tax Fairness
[1] “Trump wants Congress to restore full tax deduction for meals, entertainment,” Reuters, March 29, 2020